Insured losses from Dorian-like storms $11.3bn-$37.2bn: RMSAn RMS analysis of five historical Florida storms similar to Hurricane Dorian reveals a mean insured loss of $22.7bn based on 2019 exposures.
Swedish home insurtech Hedvig raises $10.4mnHedvig, a Swedish start-up that bills itself as providing “nice insurance” for homeowners, has raised SEK100mn ($10.4mn) from Obvious Ventures, D-Ax and Cherry Ventures.
California regulator warns insurers over quake cover “misinformation”California insurance commissioner Ricardo Lara is to send notice to insurers over what has been described as “misinformation” around quake cover that has led to confusion about an alleged “moratorium” on new policies being written.
Palomar reveals exposure to SoCal quakesRecently floated Palomar Holdings has said the total insured value (TIV) of policies it has written within a one hundred-mile radius of the epicenters of the two quakes that struck Southern California last week is “considerably less” than its excess of loss (XoL) reinsurance programme.
US commercial and personal lines increases accelerate in Q2: MarketScoutRate increases in both the commercial and personal lines P&C sectors picked up in the second quarter according to the latest survey by broker and MGA MarketScout.
FedNat hires former Heritage CUO to lead Monarch growthFedNat has hired former Heritage and UPC Insurance executive Mel Russell as vice president and head of its Monarch National subsidiary.